Advanced Technology Adoption: Determinants and Labor Market Effects of Robot Use
Verena Plümpe
Otto-von-Guericke-Universität Magdeburg, PhD Thesis,
2024
Abstract
The recent advances in automation technology, robotics in particular, have sparked a heated debate over the future of labor and human society at large. The ongoing process of robotization may engender profound impacts on various segments of the labor market. Given the far-reaching implications of robots, it is thus very important to understand the scale and scope of robot use and characteristics of robot users. However, the main challenge is the limited availability of robot data at the microeconomic level (Raj and Seamans, 2018). Due to the data constraint, the bulk of the existing literature relies on cross-country industry-level data from the International Federation of Robotics (IFR). The lack of micro-level robot data makes it difficult to paint a comprehensive picture of robotization in industrial settings, and perhaps more importantly, to assess how within-industry firm level heterogeneity manifests itself in robot use and adoption.
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Comment on “Optimal monetary policy in an estimated SIR model by G. Benmir, I. Jaccard, and G. Vermandel”
Mathias Trabandt
European Economic Review,
September
2023
Abstract
Benmir, Jaccard, and Vermandel (2023, BJV) seek to answer the following set of topical and important research questions: (i) How should monetary policy be conducted during a pandemic?, (ii) How do health considerations affect the conduct of monetary policy?, and (iii) How does the presence of contagion risk affect the main building blocks of the New Keynesian model?
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Global Banks and Synthetic Funding: The Benefits of Foreign Relatives
Fernando Eguren-Martin, Matias Ossandon Busch, Dennis Reinhardt
Journal of Money, Credit and Banking,
No. 1,
2024
Abstract
Abstract This paper examines the effect of dislocations in foreign currency (FX) swap markets ("CIP deviations") on bank lending. Using data from UK banks we show that when the cost of obtaining swap-based funds in a particular foreign currency increases, banks reduce the supply of cross-border credit in that currency. This effect is increasing in the degree of banks' reliance on swap-based FX funding. Access to foreign relatives matters as banks employ internal capital markets to shield their cross-border FX lending supply from the described channel. Partial substitution occurs from banks outside the UK not affected by changes in synthetic funding costs.
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